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Stochastic Analysis in Location Research

In: Foundations of Location Analysis

Author

Listed:
  • Oded Berman

    (University of Toronto)

  • Dmitry Krass

    (University of Toronto)

  • Jiamin Wang

    (Long Island University)

Abstract

Modern Location Theory includes a large and growing field studying the impact of various types of uncertainty in location models. This field of Stochastic Location Models can be traced back to the pioneering work of Frank, whose 1966 paper “Optimum Locations on a Graph with Probabilistic Demands” represents the first formal analysis of stochastic issues in location theory. This paper appeared during the “golden age” of Operations Research when many new applications of probability theory to optimization problems were being developed spawning fundamental contributions in a variety of fields such as inventory theory, queuing theory, and stochastic dynamic programming, among others.

Suggested Citation

  • Oded Berman & Dmitry Krass & Jiamin Wang, 2011. "Stochastic Analysis in Location Research," International Series in Operations Research & Management Science, in: H. A. Eiselt & Vladimir Marianov (ed.), Foundations of Location Analysis, chapter 0, pages 241-271, Springer.
  • Handle: RePEc:spr:isochp:978-1-4419-7572-0_11
    DOI: 10.1007/978-1-4419-7572-0_11
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    Cited by:

    1. Martínez-Merino, Luisa I. & Albareda-Sambola, Maria & Rodríguez-Chía, Antonio M., 2017. "The probabilistic p-center problem: Planning service for potential customers," European Journal of Operational Research, Elsevier, vol. 262(2), pages 509-520.
    2. Berman, Oded & Sanajian, Nima & Wang, Jiamin, 2017. "Location choice and risk attitude of a decision maker," Omega, Elsevier, vol. 66(PA), pages 170-181.

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